Career
During his time as a head coach he served at North Alabama, Temple and West Alabama. He is most noted for leading North Alabama to three consecutive National Collegiate Athletic Association Division II National Football Championships between 1993–1995. Wallace was a starting safety at Mississippi State for two years and was an undisputed team leader.
He played smart and covered the whole field in a manner that allowed him to outperform others with greater size and or speed and was considered by his teammates to be a "tough" competitor.
Assistant coaching career
Wallace started his coaching career as a graduate assistant at Mississippi State University in 1976. The following season, he joined Hall of Fame coach Pat Dye"s staff at East Carolina to coach defensive backs.
He followed Dye to Wyoming and Auburn, before returning to his alma-mater Mississippi State as defensive coordinator. During his tenure at Auburn, Wallace was noted for recruiting standout running back Bo Jackson.
In 1987, he coached defensive backs at Illinois.
University of North Alabama
Bobby Wallace"s career as a head coach began in 1988 when he was named head coach at the University of North Alabama (University of North Alabama) in Florence, Alabama. He compiled a record of 82–36–1 in 10 seasons (1988–1997) at University of North Alabama, leading the Lions to three consecutive Division II national championships in 1993, 1994 and 1995. The 1995 University of North Alabama team was named the "Best Team of the Quarter Century" in Division World War II He resigned at University of North Alabama following the 1997 season to become the head coach at Temple University.
Temple University
Wallace became the 23rd head coach at Temple University on December 23, 1997.
He coached the Owls for eight seasons, compiling a record of 19–71. Although his first team at Temple finished 2–9, one of the wins became arguably one of the biggest upsets in college football history.
On October 17, 1998, the 0–6 Owls traveled to Blacksburg, Virginia to play the Virginia Technical Hokies. The Owls overcame a 17–0 deficit and numerous injuries to upset the Hokies 28–24.
Although his teams were consistently good defensively, none of Wallace"s eight Temple teams had winning records.
The Owls were winless during his final season in 2005, and played as a Division I-A independent after losing their Big East affiliation. During his tenure at Temple, Wallace had 12 players selected All-Big East. He also coached All-Americans Dan Klecko and Rian Wallace.
Return to University of North Alabama
On January 2, 2012, the University of North Alabama announced that Wallace would return as the Lions" ninth head football coach following the departure of Terry Bowden.